Brazil's securities industry watchdog CVM fines JBS executives

1 Min Read

FILE PHOTO: A JBS SA poultry factory employee is pictured after the company was hit by an outbreak of the coronavirus disease (COVID-19), in Passo Fundo, state of Rio Grande do Sul, Brazil, April 24, 2020. REUTERS/Diego Vara

SAO PAULO (Reuters) - Brazilian securities industry watchdog CVM has fined two JBS SA (JBSS3.SA) executives for failing to disclose market transactions between JBS and related parties, the regulator said in a statement on Wednesday.

Jeremiah O’Callaghan and Guilherme Cavalcanti, former and current JBS investment relations directors, agreed to pay 741,000 reais ($124,846) for failing to disclose JBS transactions with other companies owned by the JBS controlling shareholders Batista family, such as hygiene products manufacturer Flora and bank Original.